As I mentioned yesterday, “Law and Order” has noticed that 2010 is a great year to die. So, far no retroactive estate tax law has made it through Congress and with summer recess and elections looming, I for one am beginning to think that nothing will happen this year. If that is the case, people dying in 2010 with estates of more than $1.5 Million will need to file Estate Tax returns for the sole purpose of allocating basis since there is no basis step-up for decedent’s dying in 2010.
Monthly Archives: May 2010
Its nice to be noticed.
Sorry about the hiatus, but Tax season and other time crunches have killed my writing time and creative time. I was watching “Law and Order” last night and the plot involved you guessed it, rich people dying on cue in 2010. The plot was not one that I dreamed up and kudos to the L&O writers to dream up the idea of sending cancer patients to a quack to ensure that they died in 2010 (at the advice of the evil Tax Lawyer). Its nice to see that perhaps my 2009 blogs might have nudged the conversation regarding the inanity of the 2010 Estate tax notch.